Big Retailers’ Perfect Pricing Strategies, The Daily Will Shut Down: Consumer Business Update
Although Pia Arthur, spokesperson for Amazon.com (NASDAQ:AMZN), would not provide details about her company’s pricing strategy, she commented in an email that Amazon is “working hard to meet or beat the lowest prices out there.” It is true that a retailer may boost its sales volume if it has the lowest prices, especially as the advantage will then come out in price comparison tools. In the case of the kids’ tablet, LeapPad Explorer, Wal-Mart Stores (NYSE:WMT) seemed to deliberately undercut Amazon, as when Amazon offered the product for $59.99 on the Monday before Thanksgiving, Walmart priced it at $59.97. Then, on the Sunday after Thanksgiving, Amazon raised the price to $69.99, and Walmart followed, but going only to $69.97, which is no real difference, but is to the comparison tools. Decide.com, a site which offers consumers a tool that helps them decide when to buy, said that the most volatile pricing among retailers included Amazon, Walmart, Best Buy Co. (NYSE:BBY) and Sears (NASDAQ:SHLD), while the most volatile product categories include headphones, printers, games and consoles, cameras, televisions, and refrigerators.
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On December 15th, The Daily, which marks News Corporation’s (NASDAQ:NWS) iPad era newspaper, will close down following less than two years of operation. The company said that “technology and other assets from The Daily, including some staff, will be folded” into its New York Post tabloid. The online paper employs around 120 workers.
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